Paraguay’s state-owned telco Copaco has purchased wireless network operator, Hola Paraguay, which trades as Vox, for an undisclosed amount. Although the government has not confirmed the actual price paid for Hola Paraguay, local media reports suggest that it was in the region of PYG14041million (just USD3 million). Hola Paraguay was 69.6% owned by Japan’s KDDI corporation.
Copaco said that it aims to boost Hola Paraguay’s subscriber base to 500,000 by the end of 2010, and to two million customers within five years. According to figures from TeleGeography’s GlobalComms Database, Hola Paraguay had 405,000 subscribers at the end of March 2010, representing a market share of 7.0%. Copaco plans to boost the Hola subscriber base by providing free SIM cards to its 455,000 wireline customers (and expects to convert around 100,000 into paying subscribers). In addition, Copaco hopes to achieve one million landline subscribers by the end of the five-year period beginning in 2008.